Monday 19th June, 2017

Accra, June 19, GNA - Mr
Archie Hesse, the Chief Executive of Ghana Interbank Payment and Settlement
Systems Ltd (GhIPSS), has urged Ghanaians to adopt electronic payment as a life
style to enable the country to derive maximum benefits from the existing infrastructure.
He said both service
providers and consumers must lean toward electronic payment in offering
services and consuming them.

Accra, June 19, GNA - Mr
Archie Hesse, the Chief Executive of Ghana Interbank Payment and Settlement
Systems Ltd (GhIPSS), has urged Ghanaians to adopt electronic payment as a life
style to enable the country to derive maximum benefits from the existing infrastructure.

He said both service
providers and consumers must lean toward electronic payment in offering
services and consuming them.

GhIPSS, a wholly owned
subsidiary of the Bank of Ghana, has been in existence for a decade and has
together with financial institutions rolled out a number of electronic payment
channels.

The telecommunication
companies (telcos) have also rolled out electronic payment channels working
with financial institutions and Fintech companies. These two broad platforms
will eventually be linked in a total interoperability project being championed
by the Vice President Dr Mahamudu Bawumia

Speaking in an
interview, Mr Hesse said the complete interoperability of the financial system
should make payment seamless and convenient from varied electronic channels.

However, he said, this
leap in the country’s payment system must be accompanied with a shift from cash
to an electronic payment lifestyle.

He said the acceptance
of cards, mobile money and other electronic forms of payment such as Instant
Pay, Direct Credit and Debit should become the norm.

Mr Hesse said utility
companies, government agencies and private businesses should offer electronic
payment channels such as mobile money, point of sales devices and the likes and
even offer incentives to customers who use them.

He explained that
because the use of these channels saved the companies money, they could take
part of the savings and offer them as the incentives to the customers.

He explained that such
motivations and a general policy direction from government should help migrate
Ghana into an electronic payment society.

Mr Hesse suggested
that government agencies should allow the public to pay taxes, levies and fees
through electronic payment channels because it would bring convenience to the
paying public while it will result in efficiency in revenue mobilisation.

He said GhIPSS
together with the banks and telcos would continue to educate public and promote
the various channels, adding that GhIPSS would also engage service providers
and encourage them to eventually make electronic payment the regular mode of
payment.